Fixing financial advice: too little too late?
It's no secret that financial advisers have suffered in recent years with costly compliance and education requirements taking their toll. Now, the ASIC levy paid by advisers has finally been frozen and reverted back to 2018/2019 levels, but recent statistics from FASEA show that more than 2000 that took the exam and passed have left the industry anyway.
So is it too little too late?
In this episode of Financial Standard, editor Jamie Williamson is joined by Phil Anderson, General Manager Policy and Professionalism at the Association of Financial Advisers (AFA), to give us some background on the current situation and his views on the future of financial advice in Australia.
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